Money


GE freezes pensions for 20K, trimming up to $6B in debt GE freezes pensions for 20K, trimming up to $6B in debt
- October 07, 2019

For the pension buyouts, GE is offering a one-time lump-sum payment to former employees who have not started monthly pension plan payments. The company will also freeze supplementary pension benefits for about 700 US employees, and these actions are expected to reduce net debt between $4 billion and $6 billion, GE said. (more...)
CIBC Run for the Cure surpasses fundraising target (8 photos) CIBC Run for the Cure surpasses fundraising target (8 photos)
- October 07, 2019

Slauko said. "To be here is incredibly important", participant Kerry MacNaull said. Corporately, CIBC is focused on making a difference for those affected by cancer, as well as supporting persons with disabilities; in the U.S., CIBC focuses its investments in financial literacy. (more...)
Aston Martin and Zagato celebrate 70th anniversary early with DBS GT Aston Martin and Zagato celebrate 70th anniversary early with DBS GT
- October 07, 2019

Compared to the standard DBS, the Zagato features a revised grille with sharp-edged opening slats. These models are built at Aston Martin Works, with the aim of combining craftmanship with more modern technology. A "saddle" design in the middle can be had in three finishes - printed carbon, aluminium, or Gold PVD (physical vapour deposition; as part of the Centenary Specification). (more...)
Asian shares buoyed by U.S. jobs, trade talks in focus Asian shares buoyed by U.S. jobs, trade talks in focus
- October 07, 2019

S. President Donald Trump . Sentiment toward the United States economy deteriorated sharply last week after disappointing data on manufacturing and services suggested the trade war was taking a toll, and more rate cuts would be needed to avert a potential recession in the world's biggest economy. (more...)
U.K. PM Boris Johnson battling to overcome opposition to Brexit deal U.K. PM Boris Johnson battling to overcome opposition to Brexit deal
- October 07, 2019

Barnier told an event in France on Saturday that while an agreement was still possible it "will be very hard to reach". The Prime Minister insisted Britain will pack its bags and walk out on October 31, but said it remains to be seen whether Europe will "cheerily wave us off" with a deal. (more...)
Disney squabbles with Netflix and Amazon over Disney+ Disney squabbles with Netflix and Amazon over Disney+
- October 07, 2019

The sources behind the report alleged that Disney has resisted Amazon's request; failure to strike a deal over the matter may result in Disney apps being pulled from the Fire TV platform, which would mean Disney + wouldn't be accessible to Amazon customers. (more...)
Net Neutrality Settled Once And For All, Sorta - AAF Net Neutrality Settled Once And For All, Sorta - AAF
- October 07, 2019

Rep. Tim Briglin, D-Thetford, chair of the House Energy and Technology Committee, said he is interested in putting additional net neutrality regulations on the table, if legislative counsel and the Attorney General's Office say that it's in the Legislature's purview to do so. (more...)
U.S. NHTSA Reviewing Claims 2,000 Tesla Vehicles Should Have Been Recalled U.S. NHTSA Reviewing Claims 2,000 Tesla Vehicles Should Have Been Recalled
- October 07, 2019

According to the outlet, the US National Highway Traffic Safety Administration (NHTSA) will be reviewing a " defect petition " that states Tesla was aware of a battery defect in roughly 2,000 Model S and X vehicles. Tesla shares fell as much as 2.1% before paring losses to trade at $231.36 at 3:04 p.m.in NY on Friday. In a statement on his website, Chen said the cars could catch fire if they were fully charged, and the software update simply prevents them from charging to 100 ... (more...)
HP to cut up to 9,000 jobs in restructuring strategy HP to cut up to 9,000 jobs in restructuring strategy
- October 07, 2019

Weisler will be succeeded by Enrique Lores , a longtime executive at HP who started at the company as an intern in 1989 . Dion Weisler, the chief executive officer who has shepherded the company since its 2015 split with Hewlett Packard Enterprise Co., is stepping down November 1 due to family health reasons. (more...)
Hy-Vee releases results of credit card breach investigation Hy-Vee releases results of credit card breach investigation
- October 07, 2019

The malware was created to access track data, which may include the cardholder's name, card number, expiration date and internal verification code. We now know more about the Hy-Vee data breach that was reported recently, and it did affect Sheldon - but only the card readers on the pay-at-the-pump gas pumps at the Hy-Vee convenience store. (more...)
FCA: Six million GI policy holders FCA: Six million GI policy holders "not getting a good deal"
- October 07, 2019

The Financial Conduct Authority (FCA) estimates that around six million policyholders pay unnecessarily high prices. This effectively puts the burden on the insurance industry to make sure that customers are getting a good deal rather than the customer having to do all the leg-work. (more...)
UAW negotiations with GM now focused on wages and pensions UAW negotiations with GM now focused on wages and pensions
- October 07, 2019

The union wants GM to hire its temporary workers permanently, and agree not to close more plants. The GM logo is seen at the General Motors Warren Transmission Operations Plant in Warren, Michigan on October 26, 2015. "This package addressed a minimum of (35) hourly proposals and three (3) salaried proposals. The law and basic decency require no less", Dittes added. (more...)
US trade deficit widened in August to $54.9 billion US trade deficit widened in August to $54.9 billion
- October 07, 2019

So far in 2019, the USA goods deficit with Mexico has surged 30.6 percent but with China it has declined 11.7 percent with China. The overall US trade deficit on Friday widened to 54.9 billion USA dollars in August amid protracted trade tensions, its figures showed. (more...)
BP CEO Bob Dudley to step down, Bernard Looney will succeed BP CEO Bob Dudley to step down, Bernard Looney will succeed
- October 07, 2019

The Board is also pleased to announce that Bernard Looney , 49, now chief executive, Upstream, will succeed Dudley as group chief executive and join the BP Board on 5 February 2020. When he takes over as CEO next year, Looney will need to navigate the company through its energy transition, with BP's chairman Helge Lund believing he has all the right qualities to get the business through this transformational era. (more...)
As Fed policymakers comb data, few decisive signals on outlook As Fed policymakers comb data, few decisive signals on outlook
- October 07, 2019

Boston Federal Reserve Bank President Eric Rosengren, who opposed the USA central bank's two interest-rate cuts this year, said Friday he remains attentive to whether slowing global growth and trade tensions begin to have broader effects on the U.S economy . (more...)
HSBC planning to cut 10,000 more posts: Financial Times HSBC planning to cut 10,000 more posts: Financial Times
- October 07, 2019

HSBC's London headquarters is seen in this March, 2015 file photo. The plan is the lender's most ambitious to rule its cost, a move that will reduce HSBC's staff to roughly 238,000. That will reportedly come on top of about 4,000 layoffs that the United Kingdom -based bank announced in August, following the departure of CEO John Flint. (more...)
PayPal abandons Facebook-backed Libra cryptocurrency group PayPal abandons Facebook-backed Libra cryptocurrency group
- October 06, 2019

PayPal said , however, that it would remain "supportive of Libra's aspirations". PayPal has pulled out of Facebook's digital currency project, known as Libra , a blow to the social media company that has faced stronger-than-expected scrutiny over its proposed creation of an alternative payments system. (more...)
Apple CEO Says NO To Digital Currencies Apple CEO Says NO To Digital Currencies
- October 06, 2019

However, Apple may not be completely opposed to interacting with the cryptocurrency industry in some way. According to his comments, we elect officials in order for them to undertake such a task and supply the citizens with a strong currency they can use in pretty much any application. (more...)
Solid US jobs reports eases recession fears Solid US jobs reports eases recession fears
- October 05, 2019

US President Donald Trump seized on the data to take aim at an impeachment inquiry by congressional democrats. The report came on the heels of a string of weak economic reports, including a plunge in manufacturing activity to more than a 10-year low in September and a sharp slowdown in services industry growth to levels last seen in 2016. (more...)
Here's what happened this week in the impeachment inquiry
- October 05, 2019

Adam Schiff and other Dems have charged. However, Sondland reportedly insisted that had to proceed "irrespective of the pretext" stating he "was anxious about the alternative". Press secretaries for the White House and the vice president issued similar statements assailing the demands, but did not clearly indicate whether they would comply or not. (more...)

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